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Palo Alto considers subsidized housing for salary up to $250K

Palo Alto considers subsidized housing for salary up to $250K - Yahoo News

Workers walk a past row of fenced off houses in East Palo Alto, California December 16, 2015. REUTERS/Stephen …

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(Reuters) - Palo Alto officials are considering providing subsidized housing for people earning up to $250,000, as rent and home prices soar in the Silicon Valley city.

The plan is a among a series of proposals being mulled by the Palo Alto City Council to provide affordable housing to those considered middle class in the area - families making between $150,000 to $250,000 annually.

The median household income in the U.S. in 2014 was about $52,000, according to U.S. Census Bureau statistics.

The proposals include building about 2,000 new units that would be made available for those earning less than $250,000, as well as the construction of tiny apartments known as micro units in the San Francisco Bay area city. 

Palo Alto Vice Mayor Greg Scharff, who proposed the plan, told local broadcasters KPIX that housing prices are pushing out longtime residents as well as teachers, doctors, firefighters and government employees.

"What the council is proposing is that we work together to fund and subsidize, what is basically middle-class housing; which, traditionally, has not been subsidized,” Scharff said.

I'm a longtime resident being pushed out for this very reason. I'm leaving for Sunnyvale.

I don't see any way this plan will pass. 

'Middle class' teachers, doctors, etc. are usually established with families. Would the 2,000 new units thought of as a proposal be built large enough? Tiny apartments/micro units wouldn't work.

I don't know the details but it's likely they would not be large enough. 

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